Household Budget Plan (Our Real Numbers) How To Budget

It’S time to finally reveal our new household budget plan. This is so exciting, Wendy, Wendy, Wendy You’re, so AMAZING. I totally stole that from Moana Seriously Wendy you’re getting excited over a bunch of numbers on paper. It’S just a household budget girl Seriously. We are revealing our new and improved household budget plan all based on percentages trying to keep all of our numbers under the recommended percentage, so we can pay off our debt as quickly as possible. So you are gon na see that our new categories are all based off. Recommended budget percentages Check this out. So we have housing at 25 to 35 percent utilities at five to ten percent food at ten to 15 % transportation at ten to 15 % insurance and tax at ten to 15 % health at five to ten percent savings at ten to 15 % lifestyle. I don’t like lifestyle category at fifteen to twenty five percent and then, of course, giving at ten to fifteen percent. But I don’t talk about giving on my channel because I think that’s a personal choice. So what we did is what we give and we don’t discuss it. So that’s that, but ten to 15 % forgiving, so the first one is our housing. We are setting a 2 % which is away under the 25 %, but we don’t have a house payment. So the only thing we have in our housing category is our storage unit and I put it in there because that’s where all our stuff is the stuff that would normally be in a house that if we had a house so it’s kind of like a house, But with no power – and although it does have air conditioning in our utilities – category which is supposed to be five to ten percent, we have it set at two and in our utilities category we have our cell phones at two fifteen fourteen Skype at $ 25. In our food category, which is currently residing at 4 %, we have our groceries at 580 dollars turkey day at Molina school for $ 15 and school bucks for $ 40 and school bucks is Molina’s lunches at school. So you can see. This is where the categories start shifting around, because normally school bucks and turkey would be in the Molina category, but they involve food. So therefore they are now in the food category and in the transportation category, which is supposed to be 10 to 15 percent. Ours is currently residing at 1 percent, but I will tell you: I did not move our car payment over to this because I think that is better suited with the debt. Now, if we were saving for a car down the road or we have car maintenance, it should be in this category. I think I also have put that in the savings category. So that’s a personal choice. I am NOT putting it here, I’m putting it somewhere else. We have $ 100 for gas $ 70 for an EZ Pass $ 40 for a virginia state inspection and nothing to rotate in our line our tires, even though we’re getting it done this month. I talked about this in a previous video, where we actually put rotating and aligning our tires into the budget, even though it doesn’t cost us anything to remind us to do it, because we got it with a warranty on the tires that we actually purchase in the Insurance and tax category, which is supposed to be ten to fifteen percent. Ours, is two percent, and in the insurance and tax category we have 18350 going to car and renter’s insurance, which is bundled together through USAA. We have my life insurance, which is ninety 165cm FG life insurance, which is twelve dollars and Xander life insurance, which is 3583 and just to let you know some of you. I had mentioned that my life insurance is really expensive and it is a 30-year policy. I actually called USAA and discussed it with them because thought it was high compared to ratios it’s extremely high. I thought it was high and I wanted to know how we could bring that down, and actually they told me that I was in a fantastic health category and the reason I was so high is because I am covered through 72 and you know the older. You get the more expensive it is. Maurizio’S is only a 20-year policy and in the health category, which is supposed to be five to ten percent, ours is sitting at a whopping six percent and truthfully. That is because Melina goes to a specialist that doesn’t take our insurance, they don’t bill insurance, they take our insurance, they just don’t bill it and our insurance covers it. So we have to pay out-of-pocket and then get reimbursed. We have to file a claim after we go. It’S super easy, no big deal, but we have to pay out of pocket. So that is the reason this is so high right now, so in the savings category, which is supposed to be ten to fifteen percent of your income, we are actually saving well percent of our income. It will be significantly lower once we go to Colombia, but for now we are saving a thousand dollars a month to go down to Colombia to visit Mauricio’s parents. So let’s go over the savings. We have the thousand dollars every month for a trip down to Colombia because that’s expensive, we save 200 every month for Melina summer camp. We will eventually be trying to up that, so we don’t have to cashflow it at all, but for right now, $ 200 gets us pretty close. We save one hundred and fifty dollars for medical expenses, and that is mostly the deductible at the beginning of the year. Is seven hundred and fifty dollars for us, the car repair replace fund is a hundred dollars every month. The Christmas fund is a hundred dollars every month. The emergency trip to Colombia is a hundred dollars every month and yes, I know I have a trip to Colombia and an emergency trip to Colombia. The emergency trip to Colombia is actually us saving up should something happen to someone in Mauricio family and we need to go down there at a last-minute expense. I think we’re gon na set that right around at $ 6,000. That sinking fund is only well we’re in baby step two, because that trip is a trip we absolutely would make, but it would absolutely decimate us financially if it happened and we didn’t have money saved for it. So what we are gon na do is we’re gon na save up $ 6,000 and then we’re just gon na. Let it sit there and it’s just gon na sit there and in case someday, we need it, it’ll, be there and then once we’re out of paying off debt. That money will actually just go straight towards our fully funded emergency fund, because that’s what a fully funded emergency fund is for those kind of emergencies. We put 50 dollars every month towards Mosul, Aeneas school expenses for Malina and mostly those are at the beginning of the school year when we just start hemorrhaging money for this and that and PTO expenses and field trip expenses and this expense and that expense. And it’s a lot of money at the beginning of the year, so that just helps out with that and then this month we are not putting any money to our emergency fund at all, because it’s already there in the lifestyle category, we have actually broken the lifestyle Category down to subcategories, which are similar to the categories that we used to do, and lifestyle is between 15 and 25 percent of your income, and some of these categories, as I said I don’t think, should be lifestyle. I think there should be a separate category for child care, because two parents working in this area is not a lifestyle choice. It’S a requirement you have to. I know very few families that that there are not two parents working and so child care is a requirement for us, and our schedules are not such that we can work shifts where I take Melina to school and Mauricio fix our up. We basically both need to be at work at the same time and leave the same time every day, so yeah childcare now an option and our lifestyle category. If you can believe it is actually under the recommended 15 % minimum at 14 %. So in the lifestyle Kat the first section, we have personal and recreation. So we have our hundred dollars for Amazon in there because we’re gon na spend it I’m gon na, spend it it’s the truth, so I am gon na buy stuff. So I might as well put it in the budget. We have 30 dollars and 19 X, 19 X, 30 dollars and 1990s. Why can I not say that we have 30 dollars and 96 cents for iTunes which include Netflix Apple, music, iCloud, Amazon, music? We have 14.95 for audible every month, which is my book club book. We have 399 for Amazon music, so under Malina in the lifestyle category we have before in aftercare at six hundred and eight dollars swimming lessons at $ 90 Spanish classes at two hundred and eighty dollars miscellaneous school expenses at $ 25, the book fair for $ 30 And this month is school pictures, so fifty dollars for school pictures, then in our cash category, which we also put under lifestyle, we have twenty dollars for the dry, cleaner, two hundred dollars for blow money. Thirty-Five dollars for her cut from ratio, forty dollars at Sally Beauty, Supply and a hundred dollars for random family fun out in my youtube category, which is also considered lifestyle. We have 450 for two buddy five dollars for Backblaze nine dollars for morning fame 1995 for a YouTube group I belong to and then also in the lifestyle category. We have work expenses which include $ 22 for parking for Mauricio. Should we draw separately to work, and in the last section we have $ 100 in our budget for cushion, because we will run out of money. Go over budget do something that we’re not supposed to so. We’Ve had the budget and extra hundred dollars every month, just in case so then this month we will be putting a 40 percent of our income to debt at 5800 and $ 52. So a little bit lower than what we usually put to debt, but it is the beginning of the month and what you don’t see in here is the Christmas budget, which I will be doing a whole video on. So I’ll see you in the next one see ya:

Household Budget Plan (Our Real Numbers) || How To Budget